The private German bank Donner & Reuschel, headquartered in Hamburg, will offer its customers the purchase and storage of cryptocurrencies amid high demand for such services among customers.
According to Donner & Reuschel, the bank plans to add the ability to buy and store cryptoassets for its customers. The decision to launch services, which is planned to be implemented “as soon as possible”, was dictated by the high market demand for the storage of digital currencies. The bank hired DLC Distributed Ledger Consulting GmbH as a consulting partner for the development of the new direction.
Donner & Reuschel was founded in 1798 and manages approximately $ 10.7 billion in assets. Going forward, the bank plans to “intensively engage” in asset tokenization to maximize its chances of capitalizing on the expected changes in the financial industry. Bank spokesman Marcus Vitt said:
“We have been observing the digital asset market for some time and are convinced of the potential of blockchain, including in relation to traditional securities transactions.”
The financial institution has added to the list of banks interested in cryptocurrency services. In January, it became known that Goldman Sachs is exploring the possibility of launching a service for storing crypto assets. In addition, in February, New York-based bank BNY Mellon announced that it was opening a digital assets division and developing a platform for managing cryptoassets.
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